Canada posts unexpected trade deficit and higher housing prices

FXstreet.com (Barcelona) - Canada posted a trade deficit for the month of November as a widespread advance in imports outstripped gains in exports largely fueled by a jump in foreign oil demand.

Canadian imports grew by 3.9% while exports only rose 1.1%, good for a total trade deficit of C$0.3B for the month. Market analysts had forecast an increase of October's C$ 0.4B trade surplus in the range of C$0.8B.

The increase in Canadian economic activity was also reflected in housing prices which rose 0.4% in November, bettering expectations of another 0.3% rise seen in October.